Phillip Dhillon, Partner

Saint & Co Chartered Accountants

Location
Cumbria
Website
www.saint.co.uk
Using Parmenion since
January 2011
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About Saint & Co Chartered Accountants

Saint & Co is an accountancy firm based in Cumbria and Dumfries & Galloway, offering a full range of services. It has been part of the local landscape since 1884 and has helped countless businesses reach their full potential. Through the good times and bad, Saint & Co has remained at the heart of the local community. Its goal is to support its clients in business and life. It offers high quality accounting, tax and financial solutions to support its clients’ business needs and personal portfolios. It offers straightforward practical advice at a fair and reasonable price. Building strong relationships is key to its approach. When clients work with them, they become part of their family.

Note from Phillip Dhillon, Partner, Saint & Co Chartered Accountants

“Parmenion is a core element of our Centralised Investment Proposition. With their ongoing support, we are able to offer a range of investment solutions to our clients and co-brand our services, which is important to us. We wanted to move away from fund picking and Parmenion has enabled us to do this. We have been able to streamline our processes, save time and cost, and build scale within our business. The technology is simple and easy to use and has been developed in-house, not off the shelf. This means it has been created with Adviser and client needs in mind, which makes everyone’s lives easier.”

What business challenges were you facing when you elected to consider Parmenion as a partner?

We wanted access to discretionary fund management. We wanted to outsource the actual investment management and move away from picking individual funds. Parmenion was the only platform and DFM that could provide this combination.

How has Parmenion supported the development of your business?

We’ve just done our due diligence and completed our Centralised Investment Proposition document and Parmenion is the core element of that. Parmenion helps us with co-branding and we are able to offer a range of passive and active solutions. We like the idea of the blended portfolios.

What has been the impact on your operational processes?

We have streamlined our back office processes and we are saving quite a bit of time in terms of paraplanning and general administration.

How have you adopted Parmenion in relation to other platforms and/or DFM solutions?

Parmenion sits there in the core part of our business, certainly for portfolios of up to £300k, and above that where a client doesn’t want a traditional bespoke DFM.

How have you been able to develop your proposition as a result of partnering with Parmenion?

We have been able to develop our business because Parmenion is one of the only platforms that ever ticks all the boxes. We use Parmenion as our core platform but also use other platforms as required. One of the main advantages of Parmenion, in terms of our due diligence process, is that Parmenion operates an investment oversight committee separate from the DFM and also separate from the platform. A number of firms don’t do that. We love the simplicity of using the platform. It is easy and simple to use, yet extremely powerful because the technology has been developed in-house and not bought off the shelf. It is the best platform we have ever seen and clients have a signficant cost advantage, particularly with passive portfolios.

What client feedback have you received in relation to the Parmenion service?

Feedback has been very positive, not a single complaint in terms of performance or the information that clients can access on line. It is generally just praise.

What future opportunities do you expect to explore as part of your relationship with Parmenion?

Further down the line we might look at running bespoke model portfolios constructed for us by Parmenion.

As a supporting firm, what propositional developments would you most like to see from Parmenion?

The development of our direct to client online advice capability. We are keen to see how it is implemented and we think this could be a good service for our clients.

How has Parmenion helped you to secure your business objectives?

Parmenion has offered us great service and our regional manager is very supportive. In fact, the whole team is very supportive. We recently organised some induction training and the Parmenion team is coming to our offices to do it.

How would you summarise the benefits of delivering an investment proposition powered by Parmenion?

Parmenion has given us more time to deal with our clients. We feel safe in the knowledge that the investment management has been outsourced to a very efficient and competent company.



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